How wll Eruditor Group spend $12 million in investments?


29 August 2013

The company Eruditor Group is well-known due to its successful work in the area of leveraging web-based tech to help more than 400,000 customers recruiting private specialists of all disciplines in Kazakhstan, Ukraine, and of course, Russia. The company recently received a new round of funding amounting to $12M from such established investment organizations as Frontier Ventures, Intel Capital and Runa Capital.

The funding will be committed to the development of new projects with a focus on the Russia and CIS territories. Thanks to Eruditor, freelance specialists have earned some $200M throughout 2012, and the company plans to not only exceed this figure for 2013, but to double it by year’s end. The company has begun promising new projects such as booking musicians and artists via, selecting doctors and offering online appointment registration with a new service entitled “Info Doctor,” and even offering additional services such as construction repair through the company’s “Master Hand” service, and educational tutoring through its “Your Tutor” service. In 2001, Altair Capital founder Igor Ryabenky invested $600K in Eruditor Group, and in 2012, the company received an additional investment of more than $4M from Runa Capital and Intel Capital.

On the topic of the company’s success to date, Eruditor founder Egor Rudi commented: “I am glad that our company provides people with more and more possibilities. Every day our services help thousands of people find specific assistance from specialists quickly, easily and at a reasonable price. We started our company’s second financing round for a definite reason. Our goal is to create an excellent product that exactly fits the growing and diverse needs of the public. I hope our investors and clients enjoy working with us as much as we do with them.” Mr. Rudi’s enthusiastic and confident statements confirm the company’s commitment to strong growth through innovation and customer-focused business practices.